Russia is taking a leaf out of the U.S. shale playbook so it can ramp up oil production quickly and hang on to its share of the global market when demand finally recovers after the coronavirus pandemic.
U.S. senators revealed a bill on June 4 expanding sanctions on Russia’s Nord Stream 2 natural gas pipeline and targeting the project Washington says will boost Moscow’s economic and political influence in Germany and other European countries.
Measure by Cruz and Shaheen could be proposed by June 1.
Shaheen, Cruz consider broadening the scope of their sanctions legislation.
The meeting is seen as support for stabilizing oil markets.
General Court leaves it up to the member states to enforce the rules.
Energy Ministry ordered companies to cut production by 20%.